Sedgwick Claims Management Services Inc has agreed to acquire Cunningham Lindsey, a Tampa, Florida-based loss adjusting and claims management company. No financial terms were released. Memphis, Tennessee-based Sedgwick said the deal will enhance its market position as a risk and benefit solutions provider and broaden its global footprint. Sedgwick is majority owned by U.S. private equity firm KKR. Last year, Caisse de dépôt et placement du Québec invested US$500 million in the company, joining KKR and minority investor Stone Point Capital. Cunningham is being sold by CVC Capital Partners.
Sedgwick to acquire Cunningham Lindsey
MEMPHIS, Tenn., Dec. 6, 2017 /CNW/ — Sedgwick Claims Management Services, Inc., a leading global provider of technology-enabled risk and benefits solutions, has signed an agreement to acquire Cunningham Lindsey, a global loss adjusting, claims management and risk solutions firm.
An industry pioneer with 100 years of experience, Cunningham Lindsey assists businesses, insurance companies, brokers and policyholders around the world by offering expert support when losses occur, such as during natural disasters. The company’s 6,000 highly skilled professionals comprise local teams in 600 offices across 60 countries.
“Bringing the incomparable talent, expertise and robust global capabilities of Sedgwick, Vericlaim and Cunningham Lindsey under one umbrella is among the greatest stories to emerge from the claims industry in many years,” said Michael Arbour, Sedgwick group president. “This exciting development puts us in an optimal position to meet the increasingly complex needs of clients around the world.”
The Cunningham Lindsey group includes a range of services addressing all aspects of the risk management life cycle, including pre- and post-loss; their specialties in loss adjusting, third-party claims administration, global account management, forensic engineering, and restoration and repair consulting, among others, notably complement the existing offerings of Sedgwick and subsidiary Vericlaim.
“Joining forces with Sedgwick and Vericlaim presents an opportunity to provide our clients an end-to-end service solution around the world,” said Jane Tutoki, global CEO of Cunningham Lindsey. “Our vision is to align our complementary services and further grow the reach to a scale that will help redefine the expertise and talent we can offer. We are excited about the next step in this journey with Sedgwick and Vericlaim to offer a truly global path to transform the way we provide our services together.”
The strategic acquisition of Cunningham Lindsey enhances Sedgwick’s status as the leading global provider of innovative risk and benefit solutions and broadens the company’s international footprint, Arbour said. Following the close of the transaction, the Sedgwick family will be more than 20,000 colleagues strong.
“At Sedgwick, taking care of people is at the heart of everything we do, and we know that Cunningham Lindsey shares our commitment to caring for people when the unexpected occurs,” said David A. North, Sedgwick president and CEO. “Together, we will have the capacity to reach more individuals in their time of need in more locations than ever before.”
The closing of the transaction is subject to customary conditions and regulatory approvals.
Sedgwick Claims Management Services, Inc., is a leading global provider of technology-enabled risk and benefits solutions. At Sedgwick, caring countsSM; the company takes care of people and organizations by delivering cost-effective claims, productivity, managed care, risk consulting and other services through the dedication and expertise of 15,000 colleagues in some 275 offices located in the U.S., Canada, U.K. and Ireland. Sedgwick facilitates financial and personal health and helps customers and consumers navigate complexity by designing and implementing customized programs based on proven practices and advanced technology that exceed expectations. Sedgwick’s majority shareholder is KKR; Stone Point Capital LLC, La Caisse de dépôt et placement du Québec (CDPQ) and other management investors are minority shareholders. For more, see www.sedgwick.com.
About Cunningham Lindsey
Cunningham Lindsey is a leading provider of claims management services to the insurance market. The group’s expertise is deployed 24 hours a day, 365 days a year across a wide range of disciplines, from risk management to technical loss adjusting. Cunningham Lindsey serves clients in the insurance industry in more than 60 countries with over 6,000 employees. Further information can be found at www.cunninghamlindsey.com.
For further information: Sedgwick media contact Catherine Bennett, public relations director, 615-892-9361, firstname.lastname@example.org; Cunningham Lindsey media contacts, Judy Molnar, head of global communications, 813-215-9358, email@example.com; Patrick Ryan, account supervisor, Edelman, 212-819-4880, firstname.lastname@example.org, https://www.sedgwick.com